ANSYS Reports Strong Core Revenue Growth and Robust Operating Results for the Third Quarter

(1) Amount represents the revenue not reported during the period as a result of the purchase accounting adjustment associated with EITF 01-3, Accounting in a Business Combination for Deferred Revenue of an Acquiree.

(2) Amount represents $22.4 million of amortization expense associated with intangible assets acquired in business acquisitions, including amounts primarily related to acquired software, customer list and non-compete agreements, a $6.4 million charge for stock-based compensation, as well as the $1.8 million adjustment to revenue as reflected in (1) above.

(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, adjusted for the related income tax impact of $10.7 million.

 
ANSYS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
 
 
September 30, December 31,
2008 2007
ASSETS:
 
 
Cash & short-term investments $212,374 $ 171,851
Accounts receivable, net 57,844 48,281
Goodwill 1,056,170 453,689
Other intangibles, net 383,844 176,850
Other assets 130,859 118,621
 
Total assets $ 1,841,091 $ 969,292
 
 
LIABILITIES & STOCKHOLDERS' EQUITY:
 
Deferred revenue $ 147,119 $ 122,799
Long-term debt (including current portion) 300,244 60,146
Other liabilities 231,289 145,137
Stockholders' equity 1,162,439 641,210
 
Total liabilities & stockholders' equity $ 1,841,091 $ 969,292

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